BIMCO has received information from the Government of Canada concerning the recently issued temporary voluntary speed restriction in the Gulf of Saint Lawrence. The restriction addresses increased risks to the endangered North Atlantic right whales.

Canada’s benchmark heavy crude, Western Canadian Select (WCS), has seen its price slowly slide since mid-2018, trading at a record discount to WTI of over $50 bbl during October. A supply glut has seen prices continually dip, but the grade may finally be set for a reprieve after the Premier of the oil-rich Alberta region mandated a production cut of almost 9%, or approximately 325 000 b/d, in a bid to lift prices and deal with an oversupply.
The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

BIMCO’s Chief Shipping Analyst will be participating at the INTERCEM Shipping Americas in New York City, USA, which will take place on 20 May 2019, and the Shipping Federation of Canada’s Annual Conference on 22 May 2019 in Montreal, Canada.

Due to high population levels of Asian Gypsy Moth (AGM) and more AGM detections at US and Canadian ports as a result, a joint-bulletin is now issued by these authorities for vessel operators to take action in order to avoid such delays.

For the benefit of its members, BIMCO has made a series of agreements with 15 national customs authorities (Belgium, Canada, Cyprus, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Sweden, the United Kingdom and the United States)- Customs Co-operation Agreements (CCAs)- as a means of mitigating delays and costs resulting from the discovery of drugs aboard a member vessel.